YUKON REAL ESTATE MARKET REPORT SEPTEMBER 2016
YUKON OK 73099
AS OF SEPTEMBER 30, 2016
INFO THAT HITS US WHERE WE LIVE … Those aiming for perfection in the housing recovery would agree it is indeed quite elusive. Last week’s reports proved to be anything but perfect. New Home Sales were down 7.6% in August, to a 609,000 annual rate. But let’s remember, home sales data are extremely volatile month to month and they shot up in July to their fastest rate since 2007. In August, that pace remained relatively strong. If you take out July’s numbers, August posted the fastest sales pace since 2008, ending UP 20.6% compared to a year ago. And the bulk of those sales were for homes that have yet to break ground, so demand is clearly ahead of supply.
Note that the New Home Sales report is for single-family homes. Multi-family deals (condos, co-ops) aren’t counted. Pending Home Sales, an index of contracts signed on existing homes dipped 2.4% in August following a 1.2% gain in July. Media naysayers jumped on the pending home sales declines in three of the past four months, and warned of an impending stall in the housing recovery. Yet the National Association of Realtors projects existing home sales will hit 5.36 million in 2016, up 2.1% from 2015 and the highest annual pace since 2006. Though not perfect, the housing recovery remains one of the few bright spots in the otherwise lethargic U.S. economy.
- There are about 654 properties on the market in Yukon
- The median price per square foot for homes in Yukon is about $111
- The average property in Yukon has been on the market for about 114 days
- With a Market Action Index at 31.78 (MAI Index – over 30 indicated Seller Market; below 30 Buyers Market)
- The median single family home price for Yukon, OK is $212,272
So there you have it, my Dear Reader, Yukon Real Estate Market Report September 2016.
Did you notice that the price per square foot has been steadily going up? The cost of building materials drives it up.
Also, we are in a Seller’s Market this summer in Yukon. However, the MAI Index is slightly going downwards toward Buyer’s Market.
Are you ready to make a move? Be happy to assist you, your family & friends in a home search or sale.
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